3000m Of Core Drilling To Test Alaskan Target
PolarX Limited (ASX: PXX) is on schedule to commence drilling is on at its high-priority Zackly East target within its Alaska Range project next week.
The preparations for drilling are well advanced and include:
- Drill contract for 3,000m of core drilling has been executed.
- Two drill rigs are expected to arrive on site by 15 July, with drilling expected by 18 July.
- Helicopter contract for mobilisation of drilling has been executed.
- Site inspection has been completed indicting no impediments to drill rig access.
- Drill pad preparation and access road maintenance has commenced.
- Construction of the exploration camp will commence this week with the camp to be fully operational by 15 July, when the exploration team is expected to be on site.
The company also reports it is conduction a Share Purchase Plan to raise up to $1 million to help fund the exploration work.
The Zackly East Skarn occurs just 800m from the Zackly Main Skarn deposit, where PolarX has outlined an Inferred Resource of 41,000t of copper, 213,000oz of gold and 1.5Moz silver from surface.
This resource occurs over a strike length of 1,050m (Figure 2). Strongly mineralised drill intersections to the east of the resource, including 55m @2.8g/t Au + 0.6% Cu and 47m @ 31.g/t Au + 0.6% Cu, along with geological mapping and trenching to evaluate the potential 600m strike- length of the Zackly East skarn, indicate that the resource inventory may be increased as a result of the planned drilling programme.
An initial programme of approximately 3,000m of drilling, comprising 15-20 drill holes has been planned to evaluate a 500-600m strike length of the structure.
Drilling will commence on the existing section containing holes ZX-18020 and ZX-18024 to determine down-dip continuity. Step- out cross-sections will be drilled on 50m and 100m centres with precise details to be finalised on a hole by hole basis using information gleaned from the previous drill holes.